DEP website posts that Shell has been issued 5 new well permits for the Shannon property in Lake Township, Mercer County. They were also issued a permit for 1 well at the same site last fall. That makes 6 permits for this site. I believe that is the first site in Mercer County with more than two permits. I have noticed that this site is very close to a water source as this property borders a sand and gravel operation that has left deep ponds which could be used for Fracking the wells. This could save the drilling operation a pile of cash when they don't have a need to truck water to the site. Lets hope they drill all 6 wells and obtain thru the roof production from them!!
John, I think you are right about Halcon. I think Halcon did not have enough cash to complete their deal with Carizo in Ohio and lease their obligations here in Mercer County and the meteriorite was a lame excuse. If Shell hits it big on the Shannon wells they will try to lease anything they can get their hands on in that area including the MtJ4 landowners and anyone else they can possibly sign up. If anyone can escape from their MtJ4 agreements, this would be a good time to do it and then sit and wait for Shell to contact them.
I agree with the Halcon cash flow theory. I think they were way over extended when it came time to pay up.
6 permits means that Shell MUST expect to hit it big. I read on another website that Mercer County is considered the Utica Northern Tier Sweet Spot. It's been interesting to follow to say the least. Maybe the MtJ4 landowners (former) will get the last laugh afterall.